Week 497 Review - Took some Pan African Resources profits and major holdings dropped again.

A fairly mixed week with my top two holdings falling, but my next 2 biggest gaining. It was looking like a reasonable week until JLP:Jubilee Metals dropped 0.25p in the last 15 minutes of trading and extended what would have been a very small £234 loss out to £1,776, although £700 of that was due to cashing in some profits. That was on the back of good news, so I can only hope it was a tree shake and it will head back up next week. The deficit between cost and value is now £127,961 and the deficit between injection amount and value is £55,061, with total portfolio value £112,352.

Worst performer was PAF:Pan African Resources, which dropped 16% after a profit warning and then interim results. I sold my original SIPP holding as soon as the profit warning was announced, but kept my larger holding.

AFC:AFC Energy have had a few good weeks, but it was back to normal this week with an 11% drop.

TRX:Tissue Regenix hasn't changed price for months, but dropped 9% this week for no obvious reason. It looks like the board are contemplating selling the company, which given my holding is down 62% would almost certainly mean me making a loss.

ARBB:Arbuthnot Banking had been heading upwards recently, but dropped 5% this week to go 10% down.

CWR:Ceres Power is a nightmare, and fell another 5% this week to go 37% down.

SAE:Simec Atlantis Energy drifted downwards 5% this week and are now 75% down.

ALU:Alumasc Group continued their upward progression after good results last week, and gained another 5% this week to go 74% up.

WHR:Warehouse REIT had a very rare good week, climbing 6% to go 24% down and change from orangered to orange.

CMCL:Caledonia Mining have completely ignored the recent rise in gold and have been flat, but a 7% increase this week puts them just 13% down.

Share of the Week is PBX:Probiotix Health, which went up an amazing 20% to 9p while my other microbiome shares dropped. It means my big dividend holding is still down 56%, but my small SIPP holding is up 10% and making £50 potential profit. My target to sell is 17p, which would be 100% profit and liberate £1000 to move to a magic formula share, however I may sell at 13.5p to liberate £800 because I could buy more IHP:Integrafin shares and increase that holding to £2,000.

Here's the ISA and shares portfolio after week 29 of year 10.

			Weekly Change
Cash	£56.04		-£4.44
Portfolio cost	£114,352.47		+£0
Portfolio sell value (bid price-commission)	£45,173.62	(-60.5%)	-£435.22
Potential profits	£0		+£0
Yr 10 Dividends	£109.23		+£0
Yr 10 Interest	£0.82		+£0
Yr 10 Profit from sales	£327.55		+£0
Yr 10 proj avg monthly profit	£56.72	(0.8%)	-£2.71
Total Dividends	£12,417.18		+£0
Total Interest	£7.62		+£0
Total Profit from sales	£17,602.85		+£0
Average monthly cash profit	£257.23	(3.6%)	-£0.55
(Sold stocks profit + Dividends - Fees / Months)
Compound performance	35%		+0%

Cash dropped due to AJ Bell fees and portfolio value only dropped £435 thanks to the PBX:Probiotix Health rise.

Not great.

Fractionally above the trend line but following it down.

The SIPP looks like this after week 481 overall and week 13 of year 10.

			Weekly Change
Cash	£71.42		-£271.62
Portfolio cost	£125,833.13		+£979.77
Portfolio sell value (bid price - commission)	£67,050.96	(-46.7%)	-£1,341.20
Potential profits	£3,563.69		-£1,090.01
Yr 10 Dividends	£351.71		+£8.80
Yr 10 Interest	£1.25		+£0
Yr 10 Profit from sales	£2,609.31		+£702.41
Yr 10 proj avg monthly profit	£966.82	(14.1%)	+£175.15
Total Dividends	£16,468.36		+£8.80
Total Interest	£14.15		+£0
Total Profit from sales	£19,617.25		+£702.41
Average monthly cash profit	£312.23	(4.6%)	+£5.75
(Sold stocks profit + Dividends - Fees / Months)
Compound performance	42%		+1%

Lots happened here. First there was my regular monthly investment where I bought 12 shares at 2030.1698p costing £245.12 in BHP:BHP Group. My holding is now up by 1% and making £2 potential profit. I'll probably invest in these for another 3 months to get my cost of purchase over £1,000.

I've been concerned about AAL:Anglo American Mining for a while now, as they are way down my magic formula ranking and struggling to sell of various bits of the company. I wanted to get cheap JLP:Jubilee Metals shares as I thought they were about to rocket, so I sold my 41 AAL shares at 2462.25p making a £17.31 (1.3%) loss, which becomes less of a loss if you include the £13.11 dividend. I used the proceeds to buy 26,050 shares in JLP at 3.878p costing £1,022.17. Needless to say they are now 3.7p to buy so I've lost money yet again. I should stress that the JLP purchase isn't long term, it's based on my conviction a re-rate will happen soon so I can sell them to move into dividend paying miners.

I sold my remaining AJ Bell PAF:Pan African Resources shares after the profit warning. I sold 3200 shares at 39.9165p making £719.73 (131.3%) profit. It was well timed as they ended the week at 35.35p. I will buy them back if they stay around that level. I bought more JLP:Jubilee Platinum shares with the proceeds, hoping to double my money to buy back into PAF. I bought 32,860 shares at 3.88p costing £1,279.97.

The result of all that was a big increase in year 10 projected profit and a more modest £5.75 a month increase in long-term performance. It's going to take some much, much bigger profits to get the long term figure anywhere near 10%.

I also got an £8 dividend from GAW:Games Workshop.

Value has been following cost upwards, but not at the same rate, as the gap is getting wider.

Below the trend line. Deeply depressing.

Morale boosted by a tick up in realised profits.

I hope I've done the right thing by piling into a load more JLP:Jubilee Metals shares in my SIPP. It goes against my magic formula policy, but I have no ready cash in my ISA, and couldn't let this potential opportunity slip. JLP are producing copper at Roan using high grade material which will allow them to exceed their original guidance that they had before the slide in share price following the power supply problems. That means they should at least return to the rate they were before that happened, which was 4.9p. Even that price would get me £800 profit on the shares I just bought, but I would hold out for 6.2p on one and 7.5p on the other, putting proceeds into CAM:Central Asia Metals, PAF:Pan African Resources, BHP:BHP Group and RIO:Rio Tinto.

My SIPP holding in JLP is now 235,342 shares costing £12,949, but if all my price targets are met between 6.2p and 10.6p I would get £7,706 profit and liberate £20,656 for magic formula shares. A 10.6p share price would also put my 335,780 ISA shares £14,193 in profit, but I want to keep those as 20p seems realistic for £45,756 potential profit. If they get that far then I'll hold long term for the dividend. although may top slice a few.

It's nice to dream.

Let's see what next week brings...